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RosieTiger MFI5 Challenge

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  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    Good Luck with that £40k target:j
  • RosieTiger
    RosieTiger Posts: 863 Forumite
    edited 3 March 2011 at 10:01PM
    Retaining signature

    RosieTiger - Highest £242,000 Feb 2004
    Lightbulb Dec 2008 £146,000 by March 2026
    MFi3T2 No 28 - Dec 2009 Start Balance £117,000
    Est. End Date Oct 2018 ( as at Dec 09)
    Current Position (end Nov 2010) £67,010 / Finish Nov 2016
    Mortgage less savings = £42,132
    RosieTiger - Highest £242,000 Feb 2004 :mad:
    Lightbulb Dec 2008 £146,000 by March 2026:eek:
    MFi3T2 and T3 No 28 - Dec 2009 Start Balance £117,000
    Current Position-Fully off set by savings since March 2013
  • RosieTiger
    RosieTiger Posts: 863 Forumite
    So the next date in the MFi3T2 challenge is coming up soon. Balance for the 12th March should be £63,604 and our nett position (Mortgage less savings) £39,173.

    We have a few things coming to the boil over the next month or so which will enable a lump sum payment. We have also opted to pay some more from savings over as the fluctuations in shares is quite irritating. Decided to take some more out and push further on. Also have a few hundred coming our way between Quidco and cash back credit card, so the Christmas spending spree is actually giving us something back!

    Hoping for a big impact come the next update.

    On another note, we are now paying just over £2 per day interest and having upped our OP slightly, now seeing the loan decrease at £1000 per month.

    I just love that spreadsheet :j
    RosieTiger - Highest £242,000 Feb 2004 :mad:
    Lightbulb Dec 2008 £146,000 by March 2026:eek:
    MFi3T2 and T3 No 28 - Dec 2009 Start Balance £117,000
    Current Position-Fully off set by savings since March 2013
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    Lots of great news there yay.gif
  • RosieTiger
    RosieTiger Posts: 863 Forumite
    RosieTiger - Highest £242,000 Feb 2004
    Lightbulb Dec 2008 £146,000 by March 2026
    MFi3T2 No 28 - Dec 2009 Start Balance £117,000
    Est. End Date Oct 2018 ( as at Dec 09)
    Current Position (end Mar 2011) £63,604 / Finish Apr 2016
    Mortgage less savings = £39,173
    RosieTiger - Highest £242,000 Feb 2004 :mad:
    Lightbulb Dec 2008 £146,000 by March 2026:eek:
    MFi3T2 and T3 No 28 - Dec 2009 Start Balance £117,000
    Current Position-Fully off set by savings since March 2013
  • RosieTiger
    RosieTiger Posts: 863 Forumite
    We have just gone under £60,000 :j

    Straight through £50,000 :j:j

    Straight through £40,000 :j:j:j

    and are now sitting on................

    £39,999.99 !!!!!!!

    Couldn't resist the extra payment just now to go below that one.:rotfl:

    Just had a very good shares scheme pay out at work. Put alongside cashing in some savings we have opted to get the number down further.

    We have paid back £40,000 in 12 months.
    RosieTiger - Highest £242,000 Feb 2004 :mad:
    Lightbulb Dec 2008 £146,000 by March 2026:eek:
    MFi3T2 and T3 No 28 - Dec 2009 Start Balance £117,000
    Current Position-Fully off set by savings since March 2013
  • RosieTiger - Highest £242,000 Feb 2004
    Lightbulb Dec 2008 £146,000 by March 2026
    MFi3T2 No 28 - Dec 2009 Start Balance £117,000
    Est. End Date Oct 2018 ( as at Dec 09)
    Current Position (end May 2011) £39,999 / Finish Apr 2014
    Mortgage less savings = £19,225
    RosieTiger - Highest £242,000 Feb 2004 :mad:
    Lightbulb Dec 2008 £146,000 by March 2026:eek:
    MFi3T2 and T3 No 28 - Dec 2009 Start Balance £117,000
    Current Position-Fully off set by savings since March 2013
  • RosieTiger
    RosieTiger Posts: 863 Forumite
    edited 6 September 2011 at 6:42PM
    Just submitted latest figures for the MFi3T2 challenge for September.

    balance now at £35,710

    Mortgage less savings is £10,143.:j

    Dropped some of the current level of OP down which has sent out the theoretical projected end date, but not too bothered about that as paying well over what we should be paying

    The balance figure is being affected by shares moving up and down like a broken lift, which is very frustrating. We still expect to reach a zero mortgage less savings balance by the end of this challenge, but fed up keying in latest share prices and watching the date move around, so now sticking with a low value on them and choosing to ignore!

    At present interest and payments would be repaying by December 2014 which would knock a full 15 years from the original term. If we opt to exit shares and savings next year, we could still hit zero before the end of 2012 - a major move on from our original target which was to get to £65,000!!!:rotfl:
    RosieTiger - Highest £242,000 Feb 2004 :mad:
    Lightbulb Dec 2008 £146,000 by March 2026:eek:
    MFi3T2 and T3 No 28 - Dec 2009 Start Balance £117,000
    Current Position-Fully off set by savings since March 2013
  • Have just read your diary, congratulations you have done so well! Must be an amazing feeling being so close to the finish line.
    PP
    getting out of debt 1753/8350
  • Have just read your diary, congratulations you have done so well! Must be an amazing feeling being so close to the finish line.
    PP

    Thanks you for your comments!

    Like others have said, it just tends to get frustrating though!!!!

    Roll on next year:rotfl::rotfl:
    RosieTiger - Highest £242,000 Feb 2004 :mad:
    Lightbulb Dec 2008 £146,000 by March 2026:eek:
    MFi3T2 and T3 No 28 - Dec 2009 Start Balance £117,000
    Current Position-Fully off set by savings since March 2013
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